Subscription: Access to Micro Counts of US indices
ES - two bearish scenarios point to extension lower to 2,800
From my yesterday post you know that were several alternative bearish scenario. Let me update you on that: Simple Zig-Zag ( the most bearish ). Under that scenario we are in the strongest part of the decline, wave ( c ) of ( iii ) down. And the minimum target is 2,800. The rule is wave ( c ) of ( iii ) should be at least 123.6% of wave ( a ) of ( iiii ) and wave ( iii ) should be at least 176.4% of wave ( i ) down. That gives us a confluence 2804-2801.
There is another much less bearish count where ES has been following a Double Three W-X-Y structure. W-X-Y is a corrective pattern connected of a pair pf A-B-C’s.
No posts found.